Single vs Multi Member LLC in Georgia
Hi, my understanding is that from a legal standpoint, lawyers will usually want your entity to be multi-member for better legal protection.
However, from a tax standpoint, you will have no benefit from multi member LLC vs single member LLC.
I am just a single real estate agent, so a single-member LLC would make most sense when setting up an S-Corp. However, given the above statements, I don't know if it would be worthwhile, practically speaking, to setup a multi-member LLC (and have my dad or brother be a 0.01% partner).
Would there be any other factors to consider when deciding between the two? I though I read somewhere that perhaps I could take advantage of group rates on health insurance if multi-member.
I know this is probably a lawyer question. Therefore, if anyone has any good contact recommendations, I'd appreciate it. Thanks in advance for any help.